They should reinforce themselves to be paid in coins too. Petorl should be 1 liter/coin .shikena.

OkpaNsukkaisBae:
nonsense and useless resolution.


A bag of satchet water is #300,
Fuel is #230 per litre,
a satchet of milk is #80,
Multichoice just announced that they will increase price for all the packages they offer starting from April 1st..

Legislative Oversight Function is no longer functioning.

we can do without multichoice, we cant do without the other three

WATCHOVER:

If you had coins working if you decide to buy 3Litresfuel in that your small keeg#162.50k that will be #162. 50 ×3Litres= #487.5 if you take #500 to the filling station, your change will be #12.50 which you is far better than using the whole #500 to buy cause that change you will be giving can be used for other purposes

So, that N12.50K that i am later to use to buy additional fuel or leaves for the poor fuel attendant is the reason for Nigeria's inflation? Come off it dear! At this point, we need to realise that only the things that matters matters. Let our legislators the ever unavailable power despite billions of allocations in power sector. Not yeye and valueless coins!

Cantonese:
God bless Prof C. C. Soludo.

He proposed a re-denomination of the Naira 16 years ago, but the proposal was thrown out by members of the National Assembly then. Re-denomination would have helped our naira. Looting forces inside the then NASS blocked it seeing that their hidden loots could not find their way into the banks. I still have some of the coins introduced by the Central bank while S Lamido was the governor.

Coins were discussed by Soludo, but were subverted by certain political forces in the country, after its introduction by S Lamido. Today, everyone suffers it. Our N5, which is the least denomination, is hardly found anywhere thereby affecting the purchasing power of the masses.

I hope the CBN can look at it seriously and introduce coins beginning from one kobo.

Sharap there.. soludo goofed on his redomination policy... He. Is. The. Reason we don't. Use coins anymore.. back then he. Had. The Presidents ear and trust although sooner. Persons are against anything soludo cuz. He is the. Shining boi.. e. g samsondeen Usman

Soludo took naijaa on a. Run of redesign and Introduction of plastic money of all denomination... That alone. Was aa massive expensive project.. but yar'dua accepted his project only for Him foour. Months later. To start taking about wiping out those designs he just sanction on all denomination and. Entirely replace. The naira at all denomination with a. New decimal


It was a no no policy , not because it's a bad one, but because it's way too expensive just after embarking on a wasteful redesign of some denomination which is. Equally expensive..

So u see..? Soludo goofed!

willian10:

If you are wise enough, you will understand that purewater would not jump from n10 t0 N20. that small change alone affects a lot of things

Pure water would not have jumped from N10 to N20 if there was N5 note. Expect pure water to hit N50 soon.

WATCHOVER:
Thank God they our law makers are now beginning to feel the heat and getting sense . If the coins was still in circulation inflation rates would not have been this high. No nation economy succeeds without the coins

I don't understand.

WATCHOVER:

Bringing back the coins + sound price regulation will boost the economy, reduce inflation and hardship

How? I am an economist but never understand the rationale the use of coins and boosting the economy.

letitrainnow:
Very good

What is the essence of the use of coins when the high price of goods have gone out of hand? What can u buy with coin now? Naira has lost it's value, so it's completely useless. They better look for a means to Stablize the price of goods b4 thinking of introducing coins.

Waste of time,it can never work again in Nigeria

I think this is a good ideal

francotunsco:

So, that N12.50K that i am later to use to buy additional fuel or leaves for the poor fuel attendant is the reason for Nigeria's inflation? Come off it dear! At this point, we need to realise that only the things that matters matters. Let our legislators the ever unavailable power despite billions of allocations in power sector. Not yeye and valueless coins!

Power is important as it creates employment, the rate of inflation won't be that high to the extent of double digits

Newton2024:
How? I am an economist but never understand the rationale the use of coins and boosting the economy.

An economist to what extent? You read it or you are professional? So that I will know where to start

francotunsco:

So, that N12.50K that i am later to use to buy additional fuel or leaves for the poor fuel attendant is the reason for Nigeria's inflation? Come off it dear! At this point, we need to realise that only the things that matters matters. Let our legislators the ever unavailable power despite billions of allocations in power sector. Not yeye and valueless coins!

Yes, it will reduce rubbing Peter to pay Paul

WATCHOVER:

An economist to what extent? You read it or you are professional? So that I will know where to start

I studied Economics.

Uselessness.

The lowest currency we have now is between #20-50 in terms market value.

What can we buy with 50k, #1 or #2 coin?
Mad People everywhere! mad People everywhere!!

The easiest way to do this is to limit the circulation of N5 up to N50 and then circulate a lot of coins. People would be forced to use coins

Nigerians never asked for coins. This is pointless, a waste of time and taxpayer money.